Australia

Australia

Australia

Tax insights

Tax Insights

Tax updates for you and your business

We keep you up to date with the latest Australian and International tax news.

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Insights

Beware of the liability of the annual Vacancy Fee (the so-called “ghost tax”)

6 September 2022

The 2017 Federal Budget introduced measures requiring foreign persons acquiring Australian residential property to lodge an annual Vacancy Fee Return and to pay a Vacancy Fee if a residential property is not occupied, or genuinely available on the rental market, for at least 6 months in the preceding 12-month period.

Beware of the liability of the annual Vacancy Fee - The so-called "ghost tax"

Draft legislation introduced: 120% deduction for skills training and technology

5 September 2022

Treasury has released draft legislation that will introduce a “Skills and Training boost” and a “Technology Investment Boost” to help support small businesses.

Draft legislation introduced: 120% deduction for skills training and technology

Submissions on multinational tax reform close today - could one proposed reform have unintended consequences?

2 September 2022

Ahead of submissions closing today (2 September) on the Australian Government’s multinational tax reform package,

Submissions on multinational tax reform close today - could one proposed reform have unintended consequences?

Tax Insights | August 2022 edition

31 August 2022

David Collins, Liam Telford, Mary Lai, Rick Kimberley, Sam Mohammad

In our August 2022 edition of Tax Insights, we take a look at the impacts of COVID-19 on tax residency, how 'treaty shopping' is a new focus area of the ATO, and a handy guide to payroll tax rates across Australia.

Tax Insights August 2022

Government priorities for further counteraction of perceived multinational tax avoidance

31 August 2022

Liam Delahunty, Liam Telford

Documents recently issued by the Parliamentary Budget Office (PBO) and Treasury have shed light on potential design features of the Government’s Plan to Ensure Multinationals Pay Their Fair Share of Tax (the “Plan”), particularly in relation to the ‘tax havens integr

Government priorities for further counteraction of perceived multinational tax avoidance

Impacts of COVID-19 on tax residency

29 August 2022

Liam Telford, Mary Lai, Rick Kimberley

With individuals’ FY22 Australian income tax returns soon falling due, it is appropriate for individuals whose movement has been restricted by the COVID-19 pandemic, and their employers, to take stock of prevailing guidance from the Australian Taxation Office (ATO) and the relevant implications thereof.

Impacts of COVID-19 on tax residency

Contractor versus employee – what has changed and what does it mean for your business

26 August 2022

David Collins, Rick Kimberley

There have been some significant changes to approach for determining whether a sole trader contractor engaged by your business is an employee or a contractor at common law.

Contractor versus employee – what has changed and what does it mean for your business

Updated ATO Guidance on Division 7A

17 August 2022

TD 2022/11 was published on 13 July 2022 and provides details on the ATO’s approach on how Division 7A may be applicable when a corporate beneficiary is entitled to trust income from 1 July 2022.

Updated ATO Guidance on Division 7A

Significant Queensland land tax amendments in 2023

4 August 2022

Liam Telford, Sam Mohammad

With effect from the Queensland 2023 land tax year (which ends on 30 June 2023), Queensland land tax will be calculated using a taxpayer’s total Australian landholding rather than using just their Queensland landholding.

Queensland land tax amendments

'Treaty shopping’ a key focus area of the ATO

2 August 2022

Danielle Sherwin, Liam Telford

The ATO recently released Taxpayer Alert (TA) 2022/2 Treaty shopping arrangements to obtain reduced withholding tax rates.

'Treaty shopping’ a key focus area of the ATO

A guide to payroll tax rates across Australia

2 August 2022

Rick Kimberley, Sam Mohammad

Each state or territory in Australia administers its own payroll tax rates. These vary and can be affected by thresholds, exemptions, and entitlements which are subject to change.

A guide to payroll tax rates across Australia

Tax Insights | July 2022 edition

1 August 2022

Belinda Crowley, Liam Delahunty, Liam Telford, Peter Nicol

In our July 2022 edition of Tax Insights, we take a look at recent ATO guidance on hybrid mismatch rules, how you can stay on top of your ATO debt, and a Royalty Withholding Tax explainer video.

Tax Insights July 2022 edition

FBT exemption for electric vehicles – what you need to know

29 July 2022

Liam Telford, Rick Kimberley

A new bill has been introduced to Parliament to remove fringe benefits tax (FBT) on electric cars, in a bid to make them more affordable.

FBT exemption for electric vehicles

ATO provides guidance on hybrid mismatch rules

12 July 2022

Liam Delahunty, Liam Telford

The Australian Taxation Office (ATO) has recently published Taxation Determination TD 2022/9 regarding the hybrid mismatch rules.

ATO provides guidance on hybrid mismatch rules

Tax Insights | June 2022 edition

30 June 2022

Belinda Crowley, Nick Farr, Tracy Herlihy

In our June 2022 edition of Tax Insights we take a look at EOFY tax planning, the effect of Divison 7A in family law property settlements, and how the election result could implicate FBT on car parking.

Tax Insights June 2022 edition

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